AFEMS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
AFEMS
Largest movements
- Current investments -€550,000
no longer reported in 2025 (was €550,000)
- Cash +€488,652
up €488,652 (+262.2%), from €186,344 to €674,995
mainly Current investments (+€550,000) and Net result for the year (+€23,532)
- Receivables within one year +€89,332
up €89,332 (+93.7%), from €95,361 to €184,693
of which Trade receivables: +€95,867
- Profit (loss) carried forward +€23,532
up €23,532 (+4.5%), from €521,704 to €545,236
- Gross operating margin -€36,730
down €36,730 (-69.8%), from €52,603 to €15,873
- Financial income -€4,936
down €4,936 (-34.9%), from €14,130 to €9,194
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €833,607 | €863,868 | +€30,261 | +3.6% |
| Current assets | 29/58 | €833,607 | €863,868 | +€30,261 | +3.6% |
| Amounts receivable within one year | 40/41 | €95,361 | €184,693 | +€89,332 | +93.7% |
| Trade receivables | 40 | €64,688 | €160,555 | +€95,867 | +148.2% |
| Other amounts receivable | 41 | €30,673 | €24,139 | -€6,535 | -21.3% |
| Current investments | 50/53 | €550,000 | - | -€550,000 | |
| Cash at bank and in hand | 54/58 | €186,344 | €674,995 | +€488,652 | +262.2% |
| Deferred charges and accrued income | 490/1 | €1,902 | €4,179 | +€2,277 | +119.7% |
| Total equity and liabilities | 10/49 | €833,607 | €863,868 | +€30,261 | +3.6% |
| Equity | 10/15 | €588,639 | €612,171 | +€23,532 | +4.0% |
| Contributions | 10/11 | €66,934 | €66,934 | = | 0.0% |
| Capital | 10 | €66,934 | €66,934 | = | 0.0% |
| Profit (loss) carried forward | 14 | €521,704 | €545,236 | +€23,532 | +4.5% |
| Amounts payable | 17/49 | €244,968 | €251,697 | +€6,729 | +2.7% |
| Amounts payable within one year | 42/48 | €23,050 | €29,780 | +€6,729 | +29.2% |
| Trade debts | 44 | €23,050 | €29,780 | +€6,729 | +29.2% |
| Suppliers | 440/4 | €23,050 | €29,780 | +€6,729 | +29.2% |
| Accrued charges and deferred income | 492/3 | €221,917 | €221,917 | = | 0.0% |
| Gross operating margin | 9900 | €52,603 | €15,873 | -€36,730 | -69.8% |
| Operating profit (loss) | 9901 | €52,603 | €15,873 | -€36,730 | -69.8% |
| Financial income | 75/76B | €14,130 | €9,194 | -€4,936 | -34.9% |
| Recurring financial income | 75 | €14,130 | €9,194 | -€4,936 | -34.9% |
| Financial charges | 65/66B | €1,774 | €1,535 | -€239 | -13.5% |
| Recurring financial charges | 65 | €1,774 | €1,535 | -€239 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €64,959 | €23,532 | -€41,427 | -63.8% |
| Profit (loss) for the period | 9904 | €64,959 | €23,532 | -€41,427 | -63.8% |
| Profit (loss) for the period to be appropriated | 9905 | €64,959 | €23,532 | -€41,427 | -63.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.